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Chaarat Gold Hlgs Ld (CGH)


Monday 16 May, 2022

Chaarat Gold Hlgs Ld

Chaarat Gold - Fatal Incident at Kapan Mine

RNS Number : 5806L
Chaarat Gold Holdings Ltd
16 May 2022

16 May 2022

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Chaarat Gold - Fatal Incident at Kapan Mine


Chaarat Gold (AIM: CGH), the AIM-quoted gold mining Company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic, regrets to report a fatal incident involving an employee of its contractor, S&A Mining, on 14th May 2022 following a rock fall underground at the Kapan mining operation.


The underground mining area where the incident occurred was closed immediately and an internal and external investigation has commenced. Chaarat is now working with S&A Mining and local authorities to facilitate their investigation of this tragic incident.


Mining operations continue in all other working areas while work remains stopped in the one stope where the incident occurred. Mine production is not expected to be affected.


Mike Fraser, Chief Executive Officer of Chaarat, said:

"We truly regret this incident, and we offer our sincere condolences to the family of the deceased. The safety of our employees and contractor employees at our operations is a top priority for Chaarat. We are working through an internal and external investigation and will identify further measures to prevent such incidents from occurring, and to protect the health of our employees and contracted companies' employees."




Chaarat Gold Holdings Limited

+44 (0)20 7499 2612

Mike Fraser (CEO)

[email protected]



Canaccord Genuity Limited (NOMAD and Joint Broker)

+ 44 (0)20 7523 8000

Henry Fitzgerald-O'Connor


James Asensio


finnCap Limited (Joint Broker)

+44 (0)20 7220 0500

Christopher Raggett




Panmure Gordon (UK) Limited (Joint Broker)

+44 (0)20 7886 2500

John Prior

Hugh Rich



About Chaarat

Chaarat is a gold mining company which owns the Kapan operating mine in Armenia as well as Tulkubash and Kyzyltash Gold Projects in the Kyrgyz Republic. The Company has a clear strategy to build a leading emerging markets gold company through organic growth and selective M&A.


Chaarat aims to create value for its shareholders, employees and communities from its high-quality gold and mineral deposits by building relationships based on trust and operating to the best environmental, social and employment standards. Further information is available at .



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